Google, Facebook, Apple battling for streaming music

Tech giants including Google Inc., Apple Inc. and Facebook Inc. are looking to get into the streaming music business that has been dominated by companies such as Pandora Media and Spotify, the Mercury News reports.

Apple (NASDAQ: AAPL) revolutionized the music industry 10 years ago when it launched its iTunes music store, which offered 99-cent downloads of songs, but now consumers are able to listen to streaming music for free on many sites.

Apple is said to be close to making a deal with major music labels to create "iRadio," its own streaming music service, and other companies are also making plans.